Old Port Advisors Has $6.45 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Old Port Advisors cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,294 shares of the financial services provider’s stock after selling 513 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.9% of Old Port Advisors’ investment portfolio, making the stock its 9th largest holding. Old Port Advisors’ holdings in JPMorgan Chase & Co. were worth $6,450,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $8,310,884,000. GAMMA Investing LLC grew its stake in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Northern Trust Corp increased its position in JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after buying an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of JPMorgan Chase & Co. by 31.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock valued at $2,561,256,000 after purchasing an additional 2,551,899 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock valued at $4,207,028,000 after purchasing an additional 2,465,572 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $298.22 on Tuesday. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $299.59. The firm has a 50-day moving average of $278.35 and a two-hundred day moving average of $260.40. The firm has a market capitalization of $828.78 billion, a PE ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.12 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on JPM shares. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a report on Monday, July 7th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Monday, July 7th. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Finally, Truist Financial raised their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $288.68.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director owned 91,539 shares in the company, valued at approximately $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 over the last three months. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.